Posts Tagged ‘Robert Willumstad’

We all need to blame someone for our troubles.We saw this with George Bush in 2007 and with Steve Bartman in 2003.

Kenneth Westhues wrote,
<blockquote>”Scapegoating is an effective if temporary means of achieving group solidarity, when it cannot be achieved in a more constructive way.”</blockquote>
People look for scapegoats when they need someone to blame, and most often, they are not even related to their effects. For example, George Bush is blamed for Freddie Mac’s failure, though the failed institution was created by Franklin Delano Roosevelt and forced into bad loans with poor families by the Carter Administration (and Bush would have made the necessary changes to save Freddie Mac had the liberal congress not prevented this in the name of the poor).

This brings us to Edward Liddy. Congress called him in, like a court, and questioned him about AIG and what was being done to fix the company. Congress was fuming about AIG’s continuous corruption, and they wanted answers.

Well, Edward Liddy is certainly not responsible for this corruption. The federal government put him at his post as CEO of AIG. Many other people have been CEO before him, including Martin Sullivan, Robert Willumstad, and Joseph Cassano. ABC says that the latter “virtually bankrupted” AIG, and even this is unfair.

It is implausible and unfair to attack Edward Liddy for contractual bonuses, especially when Liddy believes he’s “made progress in winding down this business”.

Now we must note that our government hates the very AIG that they set up. Says Democrat Paul Hodes, “AIG now stands for arrogance, incompetence and greed.” Well, one thing is certain. Dissatisfaction with the work of liberal congress is bipartisan.